Foreclosed properties are selling at less of a discount to traditional home resales, helping to explain a surprisingly strong turnaround in home prices in a growing number of housing markets this year.
Nationally, the “foreclosure discount” stood at around 7.7% in September, according to an analysis from Zillow. That number estimates the difference between the discount a buyer might receive on a bank-owned property versus a traditional home purchase. One year ago, that discount stood at 9%, and three years ago it peaked at nearly 24%...............................................Full Article: Source